MNI China Daily Summary: Wednesday, July 10

MNI BRIEF: China To Investigate EU Trade Actions

MNI BRIEF: China June CPI Hits Three Month Low

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Indeed Wages Tick Higher, But Future Revisions Are Likely

ITALY MAY INDUSTRIAL PRODUCTION +0.5% M/M ; -3.3% WDA Y/Y

Contrasting Momentum Dynamics Underscore Need For July Data

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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USDKRW has dropped 0.5% to range lows....>

KOREAN WON
KOREAN WON: USDKRW has dropped 0.5% to range lows at the 1115 level which brings
the 200dma at 1111.76 into play. The won's rally reflects broad based dollar
weakness but it has also outperformed the yen on the day to send KRWJPY back
through the 9.80 level despite some risk off in equity markets.
- The recovery in KRWJPY comes despite the real yield spread between the two
countries heading to fresh cycle lows thanks as Japanese real yields push higher
amid the continued drop in inflation expectations. A large gap has opened up
once again between the the currency pair and fair value based on its historical
relationship with real yield spreads.
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